Refresh Currency Rates

Explanation

Use this activity to re-calculate assessments in accounting currency values based on the latest currency rate. If you choose to refresh the assessments as per the latest currency rates, the system will fetch the currency rate valid for accounting period end date and update the currency rates in the selected records. If the Project Specific Currency Rate Type is defined, the currency rate from that will be used. If not, currency rate from Company Default Currency Rate Type will be used.

Prerequisites

• A Project Accrual in either Preliminary or Submitted status must exist.

System Effects

• Internal Assessment in Accounting Currency, Financial Assessment in Accounting Currency and Accrual Assessment in Accounting Currency will be re-calculated.